Capital in the Twenty-First Century

Key Facts and Insights

1. Income and wealth inequality are increasing: Piketty presents extensive historical data showing that wealth and income inequality have been on the rise since the 1970s.
2. Capital's share of income increases over time: As wealth accumulates faster than economic growth, the share of income from capital increases while the share from labor decreases.
3. Return on capital often exceeds economic growth: This fundamental inequality, denoted as r>g, is a key driving force behind growing inequality.
4. Patrimonial capitalism: Piketty talks about the return of "patrimonial capitalism" where inherited wealth dominates over earned wealth.
5. Concentration of wealth: Piketty argues...

   Please log in or register to view the full book summary.